Housing

13 September 2018

UNITED KINGDOM: Property prices increase around top schools

New research, reported on by Property Wire, has pointed to an increase in England of housing prices near top states schools of 35% in the last 5 years compared to the national average of 20%. The research is focussed on the cost of buying however this can also impact the cost of renting in these areas.

House prices near to The Latymer School in Enfield North London have seen the largest increase of price of up to 59%; outside of London houses near to the Southend High School for Girls in Essex have seen an increase of 50%.

The most affordable region for housing prices versus average earnings is the South East where 11 from the top 30 state schools are under the English average. The lowest under national average being homes near to the High School for Girls in Gloucestershire, where properties on average are 44% below the national average.

Homes near to the Beaconsfield High School in Buckinghamshire, which is already an expensive county to live in comparatively with other counties, are at a very high premium where houses are worth over 1 million pounds on average. This makes it the most expensive area to live in on the list of areas close to a top 30 state school.

How does this affect the client?

Employers with employees seeking housing in regions close to the top state schools should take the results of the research into account. In order to find more affordable housing options in these regions employers could perhaps start looking earlier and update their processes for home search accordingly.